LHV Bank has surpassed £500m in its active loan book and crossed £1bn in total assets, marking a significant step forward in its expansion in the UK market.
The London-based bank reported another month of steady growth and profitability in July, with its loan portfolio increasing by £20m and deposits rising to £892m. Loans issued to date now total more than £550m.
The bank’s portfolio is weighted towards commercial real estate, trading business mortgages and specialist buy-to-let, underlining its strategy of backing property investors and SMEs. Net profit for July reached £346,000, taking year-to-date profit to £2.23m.
Volumes of intermediary lending remained steady and in line with plan, while its retail banking arm is being developed further, most recently with the launch of Apple Pay.
Earlier this year, LHV reported a 30% increase in its loan book in the first quarter, reflecting strong demand from brokers and borrowers for its lending solutions.
Erki Kilu (pictured), chief executive of LHV Bank, said: “Crossing the £500 million milestone in our active loan book and reaching over £1 billion in assets marks an important step forward for LHV Bank in the UK. It demonstrates the strength of our lending model and the trust placed in us by both brokers and customers.
“What makes this particularly encouraging is that growth has been achieved while maintaining strong profitability and a stable funding base. We have issued over £550 million in loans to date, supporting businesses and investors across the UK, and we see continued demand for financing solutions that are fast, transparent, and sustainable.
“As we build on this momentum, our focus remains on serving the broker community, supporting SMEs, and expanding our product set to meet the needs of both business and retail customers.”
